# Brent Touches A Three-Month High As OPEC+ Decides To Stick With Output Increases For July

> Brent crude reached a three-month high on June 1 as OPEC+ kept its planned July output increase of 841,000 barrels per day. Brent rose 2.48% to $71.04 and WTI rose 3.23% to $68.46, with prices up about 30% since the April meeting.

- Date: 2021-06-01 · published 2021-06-01T12:00:00.000Z
- Category: policy · region Global · magnitude medium
- Page: https://feedsoft.ai/events/46497-brent-touches-a-three-month-high-as-opec-decides-to-stick-with-output-increases
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

Prices rose despite the supply increase because demand recovery expectations were strong. Higher crude costs raise diesel and energy costs for feed mills and grain logistics.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-02-02 | [With oil markets tightening, OPEC and its allies agree to a small increase in output.](https://feedsoft.ai/events/42629-with-oil-markets-tightening-opec-and-its-allies-agree-to-a-small-increase-in.md) | +4.1% | +20.3% |
| BRENT | 2016-12-01 | [Oil soars, Brent hits 16-month high after OPEC output deal \| Reuters](https://feedsoft.ai/events/9699-oil-soars-brent-hits-16-month-high-after-opec-output-deal-reuters.md) | +6.6% | +12.9% |
| BRENT | 2021-11-04 | [OPEC+ sticks with 400,000 b/d oil output hike for December, despite US pleas](https://feedsoft.ai/events/43982-opec-sticks-with-400-000-b-d-oil-output-hike-for-december-despite-us-pleas.md) | +1.5% | -15.1% |
| BRENT | 2021-11-04 | [Opec+ to increase output by 400,000 bpd despite US pressure for more oil supply \| The National](https://feedsoft.ai/events/43984-opec-to-increase-output-by-400-000-bpd-despite-us-pressure-for-more-oil-supply.md) | +1.5% | -15.1% |
| BRENT | 2024-09-05 | [OPEC+ agrees to delay October oil output hike for two months \| Reuters](https://feedsoft.ai/events/28238-opec-agrees-to-delay-october-oil-output-hike-for-two-months-reuters.md) | -4.4% | +1.0% |
| WTI | 2022-02-02 | [With oil markets tightening, OPEC and its allies agree to a small increase in output.](https://feedsoft.ai/events/42629-with-oil-markets-tightening-opec-and-its-allies-agree-to-a-small-increase-in.md) | +1.3% | +25.5% |
| WTI | 2016-12-01 | [Oil soars, Brent hits 16-month high after OPEC output deal \| Reuters](https://feedsoft.ai/events/9699-oil-soars-brent-hits-16-month-high-after-opec-output-deal-reuters.md) | +0.8% | +8.8% |
| WTI | 2021-11-04 | [OPEC+ sticks with 400,000 b/d oil output hike for December, despite US pleas](https://feedsoft.ai/events/43982-opec-sticks-with-400-000-b-d-oil-output-hike-for-december-despite-us-pleas.md) | +0.5% | -17.6% |

## Sources

- forbesmiddleeast.com: https://www.forbesmiddleeast.com/industry/energy/oil-makes-strong-gains-ahead-of-opec-meeting

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.